Europe’s gas situation has now gone from bad to worse. Gazprom will cut volumes through Nord Stream 1 in half, from 40 per cent of capacity to about 20 per cent from tomorrow onwards, pushing Germany into further danger ahead of winter. The German government will probably have to move into the highest level of its security of supply protocol. This is a state of emergency, and means rationing could be on the horizon. The EU will also need to work out how it will respond, as member states push back against the European Commission’s previous measures. It adds up to an extremely difficult picture economically, socially, and politically for Germany in particular, and Europe as a whole.
According to Gazprom, the cuts, which will see flows through Germany’s main source of Russian pipeline gas drop to 33 million cubic metres per day, are technically necessary.